Bitcoin (BTC) is plummeting and this time all altcoins are plummeting. Not a single cryptocurrency from the top 100 turns green this time. It is one of the reddest days of 2022 and the fastest decline since late February. Total market cap is down 7.5% to $1.75 trillion.
Daily Market overview.
Market cap: $1.77T -6.89%⬇️
SPOT Volume 24h: $59.9B +0.96%⬆️$BTC dominance: 39.15% -1.55%⬇️
Fear & Greed Index: 21⬇️😱extreme fear sentiment on the Market. Most projects in loss.🔴#Bitcoin $BTC $ETH #EthereumMy socials🌐👉https://t.co/h7kQrKQGFo pic.twitter.com/geHgA4rFqz
— IT Tech (@IT_Tech_PL) May 6, 2022
Ethereum is down 7%
Ethereum (ETH) failed to break through $2,950 on Wednesday night and lost traction at $2,930 yesterday afternoon. Ether then dropped all the way to USD 2,750 with a dip as low as USD 2,700. Subsequently, ETH recovered slightly, but failed to break through $2,750 overnight. This morning, ETH is down towards $2,720, bringing the price down as much as 7%.
Tldr, if all goes well with Merge testing in the next few weeks, devs may not have to delay the difficulty bomb. However, for that to happen, they would need to decide on dates this month for forking (for real) Ethereum testnets Ropsten, Goerli, and Sepolia.
— Christine Kim (@christine_dkim) May 5, 2022
XRP, BNB, DOGE significantly down
Ripple (XRP) is one of the only prices that was able to rise slightly last night, although the focus is on something. XRP first fell as low as $0.58 and then appeared to recover to $0.61. However, XRP loses grip on that this morning and drops to $0.6 with which the price is 5.2% in the minus. Binance coin (BNB) fell to $373 last night, failed to pull back $380 this morning and now stands at $378. BNB is 5.3% in the min. Dogecoin (DOGE) initially fell a little less hard, but falls deeper this morning. DOGE comes in at $ 0.127 with which the price is 5.5% in the minus.
SHIB, LUNA, ADA fall harder
Shiba inu (SHIB) is already turning a deeper red, falling 6.4% to $0.00002. Terra (LUNA) also saw a small uptick last night but is currently falling back below $80 and is now 6.5% in the min. Cardano (ADA) fell below $0.8 yesterday and has yet to regain it. With a price of $0.79, ADA is down a whopping 8.8% today.
We’re delighted to announce that the new #EssentialCardano site is now available for the #CardanoCommunity to try in 𝐛𝐞𝐭𝐚!
We previewed the platform in March’s edition of #Cardano360 and now, it’s open to all!
https://t.co/YlKJ8tG1x7 pic.twitter.com/A0Zl2k3zv9
— Input Output (@InputOutputHK) May 5, 2022
DOT, SOL, AVAX colors deep red
Then the losses are even higher. Polkadot (DOT) is currently even falling below $14.5 with which the price is 10.5% in the minus. Solana (SOL) is falling towards $82 and is even down 10.8% today. However, Avalanche (AVAX) is the biggest loser, currently falling to $57.5, which is a whopping 13.6% down.
Crypto top 100 hardest fallers
Quant (QNT), loop ring (LRC), dash (DASH), zcash (ZEC) and enjin (ENJ) are about 10% in the red today. Filecoin (FIL), vechain (VET), internet computer (ICP), lido (LDO), synthetix (SNX), convex finance (CVX), decentraland (MANA), frax share (FXS), ethereum classic (ETC), graph (GRT), theta fuel (TFUEL), iota (MIOTA) and elrond (EGLD) are all down 11% today.
Flow (FLOW), kusama (KSM), celo (CELO), neo (NEO), theta (THETA), stacks (STX) hedera (HBAR) and cosmos (ATOM) are in the red by 12%. Aave (AAVE), sandbox (SAND), harmony (ONE) and gala (GALA), lose about 13% of their value. Arweave (AR) and tezos (XTZ) are 14% in the minus and fantom (FTM) and near (NEAR) already 15%.
Axie infinity (AXS) is down 16% and apecoin (APE) and waves (WAVES) is down 18%. Zilliqa (ZIL), which rose sharply the day before yesterday, is down 18.5%. Stepn (GMT) is the biggest loser from the top 100 today and is a whopping 26% in the minus.
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#Crypto traders appear to believe that yesterday’s market-wide price surge was an anomaly, and the short celebration won’t last. Historically, when calls for #selling spikes, crowd #FUD like this strengthens the case of a continued rise.https://t.co/o8gp8VqBn8 pic.twitter.com/s59c5USnMS
— Santiment (@santimentfeed) May 5, 2022